Customer Acquisition Cost (CAC) refers to the total expense incurred by a company to acquire a new customer. It includes various marketing and sales costs, such as advertising, promotions, salaries, and commissions. CAC helps businesses assess the efficiency and profitability of their customer acquisition strategies.
Objectives and Key Results (OKRs) is a strategic framework used to set and track goals within organizations. It involves defining clear and measurable objectives, along with specific key results that indicate progress towards achieving those objectives. OKRs help align teams and individuals, driving focus and accountability towards desired outcomes.
User Insights refer to the information and understanding gained from analyzing user behavior, preferences, and interactions with a product or service. These insights help businesses make informed decisions and improve their user experience.
Agile Software Development refers to an iterative and flexible approach in software development, emphasizing collaboration, adaptability, and quick delivery of functional software. It promotes customer satisfaction and embraces changing requirements throughout the development process.
Backlog Grooming is a process in Agile project management where the development team and product owner review, refine, and prioritize items in the backlog to ensure they are well-defined, estimated, and ready for implementation.
Churn Analysis refers to the process of analyzing customer attrition or churn rate within a business. It involves identifying factors leading to customer churn, predicting churn behavior, and implementing strategies to reduce churn and improve customer retention.
Continuous Integration (CI) is a software development practice that enables developers to frequently merge their code changes into a shared repository, ensuring early bug detection and faster software delivery.
Customer Satisfaction refers to the measurement of how satisfied customers are with a product, service, or overall experience. It is a crucial metric for businesses as it indicates customer loyalty, repeat purchases, and positive word-of-mouth, ultimately contributing to business growth.
Dependency mapping is the process of identifying and documenting the relationships and interdependencies between various components, systems, or processes within a project or organization. It helps in understanding the impact of changes and managing dependencies effectively.
Monthly Recurring Revenue (MRR) refers to the predictable and regular income generated by a business through its subscription-based services or products on a monthly basis. It enables companies to measure and forecast their ongoing revenue streams, providing valuable insights for business growth and financial planning.
Product design is the process of creating and developing a new product, considering its functionality, aesthetics, and usability. It involves researching, ideating, prototyping, and testing to ensure the final product meets the needs and desires of the intended users.
Product Governance refers to the set of processes, policies, and frameworks used to manage and oversee the development, maintenance, and lifecycle of a software-as-a-service (SaaS) product, ensuring alignment with business objectives and regulatory requirements.
Product monetization refers to the process of generating revenue from a software-as-a-service (SaaS) product through various strategies such as subscription models, licensing, in-app purchases, and advertising.
Product Portfolio Management refers to the strategic process of selecting, prioritizing, and managing a company's collection of products or services to maximize value and achieve business goals in the SaaS industry.
Scrum is an agile project management framework that emphasizes collaboration, flexibility, and adaptability. It promotes iterative development, regular communication, and self-organizing teams to deliver high-quality products efficiently.
Story mapping is a technique used in agile software development to visualize and prioritize user stories. It helps teams understand the user journey, identify dependencies, and plan iterations effectively.
User onboarding is the process of guiding new users through a product or service to help them understand its features and benefits. It aims to enhance user experience, increase adoption, and reduce churn by providing clear instructions, tutorials, and support during the initial stages of using a product or service.
User research is a systematic process of gathering insights about users, their needs, behaviors, and motivations to inform the design and development of products or services. It involves various methodologies such as interviews, observations, and surveys to understand user requirements and enhance user experience.
A business owner is an individual who establishes and operates a company, assuming responsibility for its success and profitability. They make key decisions, manage resources, and oversee daily operations to achieve their business goals.
Conversion Rate is a metric that measures the percentage of website visitors who take a desired action, such as making a purchase or signing up for a newsletter. It helps businesses evaluate the effectiveness of their marketing strategies and optimize their conversion funnel.
The critical path refers to the sequence of tasks and activities that must be completed within a project to meet its deadline. It identifies the longest duration of tasks and helps in efficient project planning. #saas-product-management
A Customer Advisory Board (CAB) is a group of selected customers who provide valuable insights and feedback to a company, helping shape its strategies, products, and services. CABs foster collaboration and strengthen relationships between businesses and their customers.
Customer Lifetime Value (CLV) is a crucial metric that estimates the total worth a customer brings to a business over their entire relationship. It helps companies understand and optimize customer retention, acquisition, and profitability strategies.
Customer segmentation is the process of dividing a company's customer base into distinct groups based on shared characteristics, preferences, and behaviors. This helps businesses tailor their marketing strategies and offerings to meet the specific needs of different customer segments.
An Epic Owner is a role in Agile project management, responsible for defining and prioritizing epics, coordinating cross-functional teams, and ensuring successful delivery of valuable outcomes within an organization.
A feature owner is a role responsible for managing and overseeing the development of a specific feature in a software or product. They ensure that the feature meets the requirements and goals, coordinating with stakeholders and development teams throughout the process.
A feature refers to a distinctive attribute or characteristic of a product, service, or technology that provides a specific benefit or functionality to users. It is a prominent aspect that sets it apart from other alternatives or enhances its capabilities.
The Jobs-to-be-Done (JTBD) Framework is a strategic tool used to understand customers' needs and motivations, focusing on the job a customer wants to achieve rather than just their demographics or preferences. It helps businesses identify opportunities and design products or services that effectively address those specific jobs and create value for customers.
Lifetime Value (LTV) refers to the predicted net profit a customer generates over their entire relationship with a business. It helps assess customer profitability and aids in making informed marketing and sales decisions.
MoSCoW Prioritization Model is a technique used in project management to prioritize requirements. It categorizes them into four groups: Must-haves, Should-haves, Could-haves, and Won't-haves, helping stakeholders focus on crucial aspects and make informed decisions throughout the project lifecycle.
A prioritization framework is a systematic approach used to evaluate and rank tasks or projects based on their importance, urgency, and impact, helping individuals or teams make informed decisions and allocate resources efficiently.